Multifamily · Indianapolis, Indiana
Nine + Eighteen Apartments
Nine + Eighteen Apartments is financed with a $17.4M CMBS loan at 3.955% that reaches maturity on December 6, 2031, in 5 years and 1 month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $17,400,000
- Original balance (same notes)
- $17,400,000
- Interest rate
- 3.955% fixed
- Originated
- December 3, 2021
- Maturity
- December 6, 2031
- Payments
- Interest only for the full term
- Prepayment lockout ends
- September 5, 2031
- Master servicer
- Midland Loan Services
- Originator
- Barclays Capital Real Estate Inc.
Status
- Payment status
- Payment not received but still in grace period or not yet due. (code A)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 918 Fort Wayne Ave, Indianapolis, IN 46202
- Metro
- Indianapolis-Carmel-Greenwood, IN
- Units, rooms or beds
- 82
- Built
- 2020
- Value at securitization
- $25.5M (Nov 2021)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.84x | 0.78x |
| Occupancy | 100% | 72% |
| Net operating income (annualized from 6 months) | $1.3M | $1.1M |
| Debt yield | 6.3% |
Debt yield here is the latest NOI divided by the balance held in the trusts below. If part of the loan sits outside them, the true figure is lower.
Watch flags
Computed from the BBCMS Mortgage Trust 2022-C14 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage below 1.00x
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
On the cmbs.news watch list in all 12 monthly reports we hold (October 2025 to September 2026).
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
What the filing shows
- Occupancy has fallen from 100% when the loan was securitized to 72%.
- Net operating income is 15% below the underwritten figure ($1.1M a year against $1.3M; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.84x at securitization to 0.78x on the latest statements.
- At 0.78x, the property's reported NOI does not cover its debt service.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $17.4M | Payment not received but still in grace period or not yet due | No | 0.78x | 72% |
| August 2026 | $17.4M | Current | No | 0.78x | 72% |
| July 2026 | $17.4M | Current | No | 0.95x | 71% |
| June 2026 | $17.4M | Payment not received but still in grace period or not yet due | No | 0.95x | 71% |
| May 2026 | $17.4M | Current | No | 0.95x | 71% |
| April 2026 | $17.4M | Current | No | 0.95x | n/a |
| March 2026 | $17.4M | Current | No | 0.78x | 76% |
| February 2026 | $17.4M | Current | No | 0.78x | 76% |
| January 2026 | $17.4M | Current | No | 0.78x | 76% |
| December 2025 | $17.4M | Current | No | 0.78x | 76% |
| November 2025 | $17.4M | Current | No | 0.78x | 76% |
| October 2025 | $17.4M | Current | No | 0.99x | 88% |
From each trust's ABS-EE filing for that month. Coverage and occupancy change only when the servicer reports new statements. If one trust holding a piece of the loan skipped a month, that month's balance reads low.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BBCMS Mortgage Trust 2022-C14 | 18 | $17,400,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other Indianapolis-Carmel-Greenwood loans due in 2031
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Cambridge Commons | Indianapolis, IN | Multifamily | $134.0M | 3.724% | Nov 2031 | n/a | n/a | Current |
| Soa - E. Washington | Indianapolis, IN | Self storage | $61.5M | 6.007% | Apr 2031 | n/a | n/a | Current |
| Marriott Indianapolis North | Indianapolis, IN | Hotel | $42.8M | 6.979% | Apr 2031 | n/a | n/a | Current |
| Meridian Mark | Carmel, IN | Office | $41.5M | 6.79% | Aug 2031 | n/a | n/a | Current |
| Williamsburg North | Indianapolis, IN | Multifamily | $37.5M | 6.33% | Feb 2031 | n/a | n/a | Current |
| One & Two River Crossing | Indianapolis, IN | Office | $22.8M | 3.289% | Sep 2031 | 3.92x | 98% | Current |
| FreshEdge Industrial Portfolio | Indianapolis, IN | Industrial | $16.4M | 5.80% | Jun 2031 | n/a | n/a | Current |
| Canterbury Apartments | Indianapolis, IN | Multifamily | $12.8M | 7.058% | Apr 2031 | n/a | n/a | Current |
All loans maturing in 2031 · All Indianapolis-Carmel-Greenwood loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.